XTY Labs, a new division established by XTX Markets, has introduced a program to promote research in algorithmic trading powered by machine learning. Dubbed AI Residency Program, this program explores the intersection of finance and machine learning.

According to the press release, the AI Residency Program entails two distinct categories: Junior AI Residents and Senior AI Residents. With durations spanning from 6 to 12 months, residents delve into pioneering research under the guidance of Dr. Atlas Wang and the XTX quantitative research team.

The Role of XTX Markets' AI Residency Program

Located in New York City, XTY Labs will be launched in 2024. According to XTX Markets, it serves as a hub for research in algorithmic trading. Currently, the platform is actively seeking researchers to join the AI Residency Program.

AI Residents at XTY Labs will engage in pioneering research to develop original machine learning algorithms, leveraging their expertise in natural language processing, time series analysis, and more. With a focus on practical application, residents will collaborate with XTX Markets' quantitative research team to address complex challenges in finance.

Essential qualifications include a Ph.D. degree or soon expected, strong evidence of research capability, proficiency in modern deep learning architectures, and solid programming skills. Desirable attributes encompass expertise in developing foundational models, multi-modal frameworks, and managing large datasets.

Compensation and Interview Process

The base salary for AI Residents ranges from $40,000 to $50,000 per month, with opportunities for career advancement within XTX Markets. The interview process evaluates candidates' experience in research, machine learning proficiency, mathematical acumen, and programming skills through multiple stages, including discussions with the Research Director and practical exercises.

XTX Markets is one of the prominent liquidity providers in the FX market globally. According to the information on its website, the company has over 18% market share across European cash equity venues. XTX launched its Systematic Internaliser for European Cash Equities in 2018 and a single dealer platform in the US in 2021.

Alex Gerko, the Founder of XTX Markets, ascended to the top of the UK's taxpayers' list last year with a contribution of £487 million, Bloomberg reported. Having founded XTX Markets eight years ago, Gerko has transformed his firm into a quantitative trading powerhouse, orchestrating nearly $300 billion in daily trading volume across diverse markets, including equities, commodities, currencies, and fixed income.